Net income for the period was $170,256 or $0.03 per share, compared to a loss of ($101,410) or ($0.002) per share in the same period of the previous year.
The company attributes this increase in revenue to the launch of its proprietary product Drank, dubbed the ‘World’s First Extreme Relaxation Beverage’.
Drank – a lightly carbonated, grape-flavoured beverage – is a unique addition to the new age beverage category designed to have an extreme calming effect to relax the mind and body.
Drank combines the natural calming effects of melatonin, valerian root and rose hips, and has captured the attention of the public as the new go-to beverage for people looking to relax without resorting to medication, sleep aids or alcohol. The product is sold in prominent, purple 16oz cans bearing the slogan ‘Slow Your Roll’.
In early 2009, the company began signing agreements with national distributors, as demand for its product increased. This expansion of distribution into new sales territories has increased public awareness, resulting in a dramatic increase in sales for the company.
“The growth of awareness comes full circle, leading us to new distributors, which in turn increases our rate of expansion, which then leads to further awareness,” said Peter Bianchi, CEO of Innovative Beverage Group. “This is a profitable whirlpool to be caught in. We believe that every new market we enter is a win for our company and a win for the distributor serving the area. We want to build those types of alliances with the distributors, who in return service the store and the public.”
Source: Innovative Beverage Group Inc
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